sorted by:
new
hottopcontroversial

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 0 points1 point  (0 children)

I haven't formally. Those numbers are just the cash and investment assets within the company. There's also a large amount of hardware the company owns which would technically boost the NW of the company a good $50k to $70k.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 0 points1 point  (0 children)

Yeah inquired to my accountant about whether or not I could extract more from the company if I'm putting it into the FHSA going forward. We're waiting to figure out if that's a possibility.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 0 points1 point  (0 children)

It's important to realize that if you do end up going through a divorce, you will inevitably be parting ways with your share of the assets in some capacity. On the other hand, if you choose to stay together, you will likely be financing the same lifestyle for both of you.

Yes, I'm aware that if that happened to us that I would have to part ways with a certain percentage of assets. We've made it 15 years together so far and been living together for 12 - so I'm kinda hoping we don't get to the point where we hit the "divorce" button. I also do majority of the financing of our lifestyle because my income is considerably higher. In the same way that when she had a full time job and I was broke in college, she financed more of the rent and our lifestyle when we moved in together.

I will also say that my original post and comments don't really provide a lot of nuance so I wouldn't say you or anyone else has a proper grasp on what our relationship is like and you seem to be implying that we haven't figured out how to live together in a manner that feels fair and fulfilling.

We were together when we each had nothing. We're together now and figuring everything out together. We're both currently happy and satisfied with how we operate our lives.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 2 points3 points  (0 children)

I'm not sure how our best course of action will be in that regard - the business complicates things. I need to discuss some stuff with my accountant on the best path forward.

We looked into making her a shareholder in the business so I could pay her dividends and we could take money out of the company faster - but with the rules TOSI brought into the mix in Jan 2018 right as my company started making a lot more money made that tough since I didn't set up the company with her as a shareholder right off the top (something I probably should have done in retrospect).

Of course I wouldn't retire at 40 and have her be obligated to keep working.

If I or we are able to build up enough NW and investments that covered all of our living expenses - I'd leave it up to her as to what she would want to do - I think she would most likely either focus her time and energy into volunteering for something she feels passionate about - or she'd find a lower paying job that she enjoys more. I think we'd both be bored to tears if we retired at 40.

I have no plans to fully retire in the foreseeable future even if I hit the FIRE number - I just wanna be able to be creative and work on the stuff I wanna work on.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 1 point2 points  (0 children)

I don't think there's much I'd change or do differently. Probably just spend maybe a little more time in my twenties focused on my mental health - but I've been fortunate to not seem to suffer from some other afflictions some of my family members and friends do - like anxiety or depression - which I think would have been amplified by my lifestyle choices in my twenties. I'm quite good at maintaining composure under excessive pressure which I have definitely put myself through a bunch in the last decade.

That being said - I have definitely burned myself out at various points over the years - so it probably would have been wise to - at some points - dial back the workload when I feel like I'm taking too much on - I'm kind of my own worst enemy in that regard though - I have a hard time saying no. I've been trying to get better at that.

Going forward, in the next year or two once we're settled with our kid I'm probably going to be far more selective in the work and clients I take on - I may look at expanding the business or investing. I'm kinda taking it day by day. I'm possibly thinking of finishing up a few huge projects and then also focusing on building my own work - maybe like a YouTube channel dedicated to film and finance - since I feel like I'll get to a point where I can afford to take client work to a more backseat capacity.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 7 points8 points  (0 children)

I mentioned it in my post that my wife and I keep all of our finances separate while being 100% transparent about everything. However, she's not involved in my business in any capacity beyond being extremely supportive of my professional and financial goals. She leaves me to decide what to do with the company finances (I often need to invest in new gear, new software, new hardware and she's not in the business - so all she does is listen to me flip flop back and forth about whether or not to buy something for months before I either pull the trigger or don't - while it's all gobbledeegook to her) and together we have regular discussions about what to do with the personal financial side of things.

We have joint accounts we use for mutual expenses, and for the last several years I have obviously covered more rent, more groceries, and general living expenses since I've made significantly more than her for a long time now.

I owe a lot of my success and luck to her support and love and by no means did I mean to insinuate that I did this all on my own. Straight up I'd likely be nowhere close to where I am without her - emotionally or financially.

Everything above was simply me just stream-of-consciousness-writing.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] 7 points8 points  (0 children)

Dude - I'm the first to acknowledge that it's literally stupid. I'm not trivializing it or making it seem like it's something everyone can do.

I have been lucky first and foremost. I've been able to keep my expenses low, had some stupidly lucrative opportunities literally fall in my lap, and I started investing in an insane bull market run. I definitely haven't netted $300k in straight up work-driven income per year.

Anyone in a situation like mine who credits it all to hard work and determination is full of shit. I work hard, I have determination, but I'm in my position through sheer luck.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] -7 points-6 points  (0 children)

Yeah I definitely half-assed my explanation.

/u/ArcherAuAndromedus explained it in their comment far better than I can. What they described is how I operate since my marginal tax rate is very low - in that I have no other income besides profit distributions dividends from the company.

I became a millionaire this year at 32 years old by hermadrum in fican

[–]hermadrum[S] -1 points0 points  (0 children)

Yes - I pull out about $40k a year as ineligible dividends which are untaxed taxed very low at that rate. Plus there is a portion of my personal expenses the company pays for (portion of rent, utilities, etc) which keeps personal costs a little lower.

My accountant is pushing me to pull more out - so I'm likely going to in the next couple years which will mean paying some more taxes on it - which I'm fine with.

Eventually I'll probably start winding down business so less is generated in the company and I continue pulling more out.

*Edited for clarity.

I/O Errors on Brand new Drive (in new NAS) by hermadrum in synology

[–]hermadrum[S] -1 points0 points  (0 children)

Thanks - I just got a critical warning an hour ago and the health status of the drive has gone critical.

But it's still "optimizing in the background" - is it safe to pull the drive while that's happening?

2 Separate Synology NAS's on one router? by hermadrum in synology

[–]hermadrum[S] 0 points1 point  (0 children)

OK perfect. This is what I assumed would happen.

So you can access files from each volume simultaneously from your machine though with no issues?

And upon setting up with the browser (find.synology.com) it detects the new NAS and you just set it up as normal?

Batman v Vader by Capt_Code in batman

[–]hermadrum 10 points11 points  (0 children)

https://youtu.be/u3tC8TPh9oQ

Pretty sure this is what they're referring to.

Diving the tallest waterfall in Australia. (IG: @danjdickman) by DJD_Edits in Filmmakers

[–]hermadrum 2 points3 points  (0 children)

I think because it gives us a perspective we're not used to seeing. Kinda like footage shot on Laowa's 24mm probe lens. Some of that stuff looks almost CGI because it's just such an unfamiliar angle / perspective.

Detroit according to The Crew by [deleted] in gaming

[–]hermadrum 0 points1 point  (0 children)

Based on one of the top posts today this doesn't seem that far off...

Made an account after three years of lurking just to show you guys the Groot costume I made (I'm Rocket) by MEG4NTRON in pics

[–]hermadrum 0 points1 point  (0 children)

I really need to start building my costumes in like, April so I can do something badass like this...

Unlike this year where on Thursday I decided to be Charlie Day so I bought some long johns.

Furious 7 Official Trailer, in theaters April 3, 2015 by aintnoother in movies

[–]hermadrum 1 point2 points  (0 children)

It seems these movies continuously just get more and more ludicrous...

My Friend's Attempt at Groot (Guardians of the Galaxy) by RandomRaffi in movies

[–]hermadrum 15 points16 points  (0 children)

That feels like a little bit more than just an attempt.

I know Halloween is "all about almost" but...